The Egypt Financial Regulatory Authority’s committee responsible for establishing and licensing supervised firms approved the establishment and/or licensing of six companies to carry out non-banking financial activities, spanning real estate investment funds, factoring, investment fund management, and mortgage finance. The approvals covered the establishment of Awaed Real Estate Investment Fund and the Thunder Fund for Investment in Real Estate Assets to operate as real estate investment funds, and the licensing of Nawy Shares Fund for the same activity. The committee also licensed BFI Cash to conduct factoring and entered it on the relevant register, authorised Okaz Asset Management to add investment fund management to its original purpose, and authorised EFG Financial Solutions to add mortgage finance to its original purpose. The committee’s mandate, set out under the FRA Chairman’s Decision No. 3060 of 2023, includes approving the establishment and licensing of supervised non-banking financial services companies and handling requests such as adding activities, amending articles of association, opening or closing branches, and approving liquidation or suspension of activity.
Egypt Financial Regulatory Authority 2025-12-17
Egypt Financial Regulatory Authority approves six firms to establish or expand real estate investment fund, factoring, fund management and mortgage finance activities
The Egypt Financial Regulatory Authority approved six companies for non-banking financial activities, including real estate investment funds, factoring, investment fund management, and mortgage finance. Approved entities include Awaed Real Estate Investment Fund, Thunder Fund, Nawy Shares Fund, BFI Cash, Okaz Asset Management, and EFG Financial Solutions. The committee operates under FRA Chairman’s Decision No. 3060 of 2023.